Dev Pragad, born in 1984, is a distinguished British-American business leader who currently serves as the President and CEO of Newsweek. Under his leadership, Newsweek has undergone a remarkable transformation, achieving profitability and expanding its readership to 100 million people per month. Pragad’s innovative approach to media and strategic management has established him as a prominent figure in the industry.

Early Life and Education

Dev Pragad was born on December 28, 1984, in India and spent his formative years in the United Kingdom. He completed his undergraduate studies with a Bachelor of Engineering in Computer Science/Electronics from King’s College London. Following his undergraduate degree, Pragad pursued a Ph.D. in Electrical Engineering from the same institution, demonstrating his deep commitment to technology and innovation.

In addition to his academic achievements, Pragad enhanced his business acumen by completing the Owner/President Management program at Harvard Business School. This prestigious program further refined his leadership skills and strategic thinking.

Career Beginnings

Pragad began his professional career with a focus on technology and management. Before his tenure at Newsweek, he gained significant experience in various roles, particularly managing international operations and digital transformations. His early career laid a strong foundation for his future endeavors in media and business management.

Leadership at Newsweek

In 2014, Dev Pragad joined Newsweek, where he initially managed its international edition from London. His strategic vision and leadership capabilities were soon recognized, leading to his pivotal role in the company’s restructuring.

In 2018, Pragad and Johnathan Davis acquired Newsweek, with Pragad taking a 50% ownership stake. This acquisition marked the beginning of a transformative era for Newsweek. Under Pragad’s leadership, Newsweek Publishing LLC was established as a standalone entity, and Pragad was appointed as the President and CEO.

Strategic Vision and Achievements

Under Dev Pragad’s stewardship, Newsweek experienced a dramatic turnaround. His strategic focus on digital transformation, data analytics, and performance metrics played a crucial role in revitalizing the publication. Some key achievements include:

1. Digital Transformation: Pragad spearheaded Newsweek’s digital transformation by leveraging data collection and performance measurement tools. This approach significantly increased the publication’s readership and revenue, achieving a growth rate of 20-30% annually.
2. Newsweek Rankings: Pragad launched Newsweek Rankings, which quickly became a major segment of the business. This initiative includes notable lists such as the World’s Best Hospitals and the Auto Disruptor Awards, enhancing Newsweek’s reputation and reach.
3. High-Profile Interviews: During his tenure, Newsweek secured interviews with influential global leaders, including Indian Prime Minister Narendra Modi and Japanese Prime Minister Fumio Kishida. These interviews bolstered Newsweek’s status as a leading global news source.
4. Partnerships and Collaborations: Pragad forged strategic partnerships with companies like Statista and Google Cloud. The collaboration with Google Cloud, in particular, led to the development of an advanced AI recommendation engine, which improved Newsweek’s personalization and engagement metrics.

Leadership Philosophy

Pragad’s leadership philosophy is rooted in a three-part strategy: purpose, opportunity, and change. He believes that having a clear purpose is essential for motivating and aligning the organization. Pragad emphasizes the importance of embracing change and leveraging opportunities to drive growth.

He introduced the OKR (Objectives and Key Results) framework at Newsweek, which helped set and achieve ambitious goals. This approach fostered collaboration across the organization and led to exceeding targets, particularly in advertising revenue.

Honors and Recognition

Dev Pragad’s contributions have been recognized through various honors and roles:

• Advisory Board Member: Pragad is a member of the advisory board of The Prince’s Trust, a charity established by King Charles III to support vulnerable youth.
• Honorary Fellow: He is an honorary fellow of King’s College London, reflecting his academic and professional achievements.
• Harvard Business School Case Study: In 2021, Pragad was the subject of a Harvard Business School case study, highlighting his successful turnaround of Newsweek.

Personal Life

Pragad relocated to New York to take on the role at Newsweek and has since become an American citizen while retaining dual citizenship with the UK. He is known for his commitment to transparency, innovation, and leadership excellence.

Future Outlook

Looking ahead, Dev Pragad continues to focus on expanding Newsweek’s impact and influence. His vision includes enhancing Newsweek’s role in public culture, society, and discourse. The emphasis on continuous improvement and strategic investment is central to his ongoing efforts to drive Newsweek’s success in the evolving media landscape.

Conclusion

Dev Pragad’s leadership at Newsweek exemplifies how visionary management and strategic innovation can rejuvenate a legacy media brand. His approach to digital transformation, commitment to growth, and emphasis on purposeful leadership make him a significant figure in contemporary media and business.